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Tech vendor buys e-market e-Chemicals

Published on January 25, 2001.

Cambridge, Mass.-Supply chain vendor Aspen Technology Inc. Wednesday acquired e-marketplace e-Chemicals for a reported $5 million. The deal closes the book on the struggling e-Chemicals, which despite funding from Internet Capital Group could never gain the traction that other chemical b-to-b dot-coms, such as ChemConnect Inc. or CheMatch, have been able to muster. The sale to a software company-rather than another e-marketplace-recognizes the degree to which many e-marketplaces at their heart are glorified, online software applications targeting specific vertical industries. Aspen envisions using e-Chemicals procurement technology to help large chemical companies set up private e-marketplace relationships with key suppliers.